The TISA project would benefit those earning less than 1.5 million baht a year, who would be able to deduct up to 1.3 times the value of their TISA savings from their taxable income.
The project would benefit Thailand as it enters an ageing society, encouraging more people to save while also supporting the capital market, he added.
At the same time, the Finance Ministry would introduce new measures to encourage people to save by buying bonds, Ekniti said.
Bond buyers would be able to deduct the first 200,000 baht of their bond purchases from taxable income, on condition they hold the bonds for at least five years.